If you’re starting a rent roll, you’ll need a statutory trust account to hold all the rent you collect on behalf of your landlord clients. This should be separate to your sales trust account, to allow for easy reconciliation of each trust account. Fair Trading NSW sets out their requirements for Trust Accounts held in NSW here: http://tinyurl.com/jrbog2x

Don’t forget, you need to obtain your unique identifying number from NSW OneGov and provide this number to your financial institution, and remember to have your annual audit completed each year.

To find out more on how to start your own Rent Roll and set up this trust account, contact Rent Roll Starter today!

02 7903 9993